Latest Recessions and depressions News
Keeping your credit profile healthy during a pandemic
Credit may not be top of mind for many consumers these days. But as the pandemic and its associated economic woes drag on, they may want to give it some attention. COVID AND CREDIT The good news is that consumers, by and large, improved their credit profile during the pandemic, despite record unemployment and...
Asian shares, US futures gain after last Trump-Biden debate
Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. Stocks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai. Sydney's benchmark ended flat. In their debate late...
US long-term mortgage rates hit new low; 30-year at 2.80%
WASHINGTON (AP) — U.S. long-term mortgage rates slipped this week as the key 30-year loan marked a new all-time low for the 11th time this year. Home loan rates have notched a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported...
US jobless claims drop to 787,000, but layoffs remain high
WASHINGTON (AP) — The number of laid-off Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels. Last week's figure was down from 842,000 the previous week, the Labor Department said Thursday. The...
Rising vacancies, declining rents squeezing apartment REITs
LOS ANGELES (AP) — The pandemic is squeezing big apartment building owners, with a surge in vacancies leading to a decline in rent growth for the first time in years. The U.S. vacancy rate for apartments rose to 5% in the third quarter from 4.6% a year earlier, according to Moody’s Analytics REIS....
Walz signs $1.9 billion public works package at union center
ST. PAUL, Minn. (AP) — Gov. Tim Walz says the $1.9 billion public works bill he signed into law will improve Minnesota’s infrastructure and ensure that construction crews keep busy as the economy digs out from a recession. Walz went to an Iron Wormers Union training center in St. Paul on Wednesday...
The Latest: Sri Lanka orders more curfews over virus cluster
COLOMBO, Sri Lanka — Authorities in Sri Lanka have closed the country’s main fish market and widened the curfew in many parts of the island nation following a surge of coronavirus infections related to a new cluster centered on a garment factory. The government imposed a curfew Thursday in parts of...
Editorial Roundup: Pennsylvania
Recent editorials of statewide and national interest from Pennsylvania’s newspapers: Pay attention: Pa. is poised to fall off a budget cliff The Philadelphia Inquirer Oct. 20 Pennsylvania is staring at a fiscal cliff. It’s easy but perilous to ignore state budget minutiae amid a contentious...
Trump the dancer? His moves to 'YMCA' at rallies are a hit
TUCSON, Ariz. (AP) — He adjusts his coat. He gazes out at the crowd. And then he goes for it. President Donald Trump, a man who is famously particular about his appearance, is fully embracing doing a dad dance to the Village People's “YMCA” as the finale to his rallies in the campaign's...
Study: COVID speeds up human vs machine standoff over work
GENEVA (AP) — As automation and online work gain ground, organizers of the annual Davos forum are projecting employers will split work equally between machines and people by 2025, with the coronavirus pandemic accelerating changes in the labor market. The World Economic Forum, in a report released...
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